US economic growth in Q1 upgraded to 1.4%

The US economy got off to a lacklustre start during the first three months of 2017, though it had a bit more momentum than earlier estimates indicated.

The Commerce Department says the gross domestic product, the broadest measure of economic health, grew at an annual rate of 1.4 per cent in the first quarter - better than a previous estimate of 1.2 per cent.

The upgrade reflects new-found strength in consumer spending and exports.

The result is weaker than 2.1 per cent growth in the fourth quarter and matches the growth rate recorded the second quarter of 2016. It is still well below US President Donald Trump's ambitious growth targets.

Analysts expect growth to accelerate in the second quarter, fuelled by solid hiring and a rise in consumer spending.